In response to complaints about unauthorised cash withdrawals at PicknPay till points, PicknPay has announced upgrades to their till points. A shopper had complained that on two separate occasions, PicknPay tellers had made unauthorised cash...
Five biggest debt mistakes
Wikus Olivier, debt counsellor at DebtSafe, highlights a number of common financial mistakes that individuals often make, resulting in debt. However, these can be mitigated if discipline is practised and changes are made in spending behaviour....
Long-term perspective: about more than just investments
Ensure that the “sandwich generation” is only a one-generation phenomenon, writes Kagisho Mahura In 1974, sociologist Dr Edward Banfield of Harvard University wrote a book entitled The Unheavenly City. In it he described one of the most profound...
Free financial planning workshops in Cape Town
Financial Planning Week: 25-29 August CERTIFIED FINANCIAL PLANNER® professionals Craig Torr, Paul Rossouw, Ian Beere and Laverne Slater will be giving four free financial planning workshops in Cape Town on 26, 27 and 28 August, as part of...
Domestic worker benefits
For most South Africans, their domestic worker is part of the family. As such and as a responsible employer, you should consider providing additional benefits similar to those that an employee in any other working environment would enjoy – for...
Creating a financially savvy kid
Even if you have a natural saver on your hands, you still need to teach your child about budgeting and investing, as well as how to shop mindfully by comparing prices and understanding the value of what they are buying. Whenever I meet people whose...
It’s annual tax phishing season
With tax filing season upon us, the annual tax-related cyber-fraud feeding frenzy has begun, warns Jonas Thulin, Security Consultant at Fortinet. "The Receiver of Revenue, financial institutions and security firms have been issuing the same...
Jointly owned bank accounts in the British Isles – pitfalls and planning strategies
By Oliver Charles Phipps, FISA member and Solicitor in England with Lester Aldridge It is quite common for an individual in South Africa to own a bank account which is registered in the British Isles. This may be because he or she originated from...
Choosing a bank account for your child
When selecting a bank account for your child, first consider what they will be using it for and then look for one with the best pricing structure. A young child who is mostly saving will want an account with a high interest rate, while an older...
Shopping online: how to avoid overspending
According to World Wide Worx, which monitors the local e-commerce landscape on an annual basis, in conjunction with MasterCard, online shopping has stayed in line with forecasts over the past few years – slightly surpassing last year’s...
Previous Articles
No-deposit home loans
A recent survey in the UK found that young adults are increasingly relying on their parents to help them pay for a deposit for their first home. The survey conducted by mortgage lender Halifax found that the majority of parents believed they would have to help their...
Feeling the squeeze
I recently undertook an exercise to see how much my monthly bills had gone up over the last few years and was shocked to discover that our household was spending nearly double on groceries than we had four years ago. At first I was in denial – I thought I had simply...
Not all financial planners are equal
Last weekend, I spent my time searching for elusive pieces of paper and trawling my inbox for financial statements. It was a partly frustrating, partly liberating experience as the aim was to get all our family’s financial paperwork together so our financial planner...
What you need to know about domestic worker contracts
You’ve employed the same domestic worker for the last 10 years but now, due to a change in your financial circumstances, you need to either end her contract or reduce her working hours. If you don’t follow the correct procedures, you could find yourself in front of...
Beware of debit order fraud
When Jurie Pohl discovered that fraudulent debit orders amounting to R12 000 had been deducted from his bank account over five years, he became the latest victim of a financial crime where syndicates are deliberately using the debit order system to commit fraud....
Do you need to bank with the big four to get a home loan?
As banks become tighter about who they lend to, with preference going to their own client base, could banking with Capitec hurt your home loan application? This was a question posed by Akhona who has banked with Capitec for a long time. “I have been told that this...
Tax Ombud to give taxpayers a fair hearing
Taxpayers generally have the odds stacked against them when it comes to disputes with the South African Revenue Services (SARS). With wide-ranging powers provided to it under the Tax Administration Act, SARS is able to request information about taxpayers from third...
How to save for a deposit
You can improve your chances of being granted a home loan or vehicle finance as well as the interest rate you are offered, if you have a deposit of 10 to 20%. With interest rates expected to increase over the next two years, banks are going to become more cautious...
Air tickets: read the fine print
Air travel is not cheap and even “low-budget” airlines charge you more than R1 000 for a local, return flight. However, low-cost air tickets come with a non-refundable clause, so you get what you pay for. Read the fine print before you buy because a refund might not...
How to handle joint expenses
When you get married it is not just your hearts that become one, but also your money. Even if you are one of those financially independent couples where ‘his is his’ and ‘hers is hers’, when you live together, have kids together and hopefully retire together, there is...